1907 $20 High Relief, Flat Rim MS67+ NGC.This
sensational coin has a provenance tracing back directly to Frank
Leach, Mint Director in 1907 who oversaw the striking of the High
Relief double eagles.
When Leach assumed the office of Director of the Mint in
Washington, D.C., in October 1907, he was quickly faced with a
difficult challenge. His involvement in the gold design project had
been relatively ignored in past references until Roger Burdette
provided substantial details in Renaissance of American Coinage
1905-1908. In his autobiography, Recollections of a
Newspaperman, Leach wrote (p. 373):

"Another very important matter was in hand in the
bureau when I arrived at Washington, which was soon to cause me
some anxiety, and that was the perfection of President Roosevelt's
scheme for new designs for all the gold coins of our
country."

The new designs that Leach mentions, are of course, the Indian Head
eagle and the Striding Liberty double eagle, known today as the
Saint-Gaudens double eagle after its designer. Augustus
Saint-Gaudens prepared both designs at the encouragement of
President Roosevelt, who first proposed the project in 1905. Leach
continued:

"There were a number of prominent people in the East,
especially in New York and Boston, who some time before began an
agitation for an improvement in appearance of all our coinage. The
President quickly became the leading spirit of the movement. The
prevalent idea in this undertaking was that the design and
execution of our coinage were inferior and inartistic when compared
with those of ancient Greece; and as the coins used by a nation are
one of the most enduring records of the art and mechanical skill of
its age, our government should make an issue of coinage that would
leave to future generations and ages something that would more
truthfully and correctly reflect the artistic taste and mechanical
ability of our day than the coinage then in use, unchanged for so
many years."

The high relief concept from ancient Greek coins that President
Roosevelt urged was impractical for modern coinage. The concept was
that the designs would have a medallic effect much like those of
ancient Greek coins. Leach provided a brief accounting of the
history (p. 374), talking about the first model of the double eagle
that is now known as the Ultra High Relief:

"It was early in the year 1905 that President Roosevelt
authorized the Director of the Mint [George Roberts] to conclude a
contract with the famous sculptor, Saint-Gaudens, to supply designs
in high relief for the $20 and $10 gold coins. This was
accomplished in July, but no designs were finally perfected that
met the approval of the President until the early part of 1907. The
first model was a design for the double eagle, or $20 piece. Dies
from the model were made at the Philadelphia mint. On trial, the
dies gave such a high relief to the figures on the design that all
efforts to produce a perfect or satisfactory coin on the regular
coining presses were ineffectual. A medal press was then resorted
to, that the beauty of the design might be studied and be preserved
in the shape of a coin, but even by this process it required about
twelve blows or impressions in the press for each
piece."

The Ultra High Reliefs were struck while George Roberts was
Director of the Mint. Roberts left the Mint service in July 1907,
and Leach began his service in October of that year. Former Mint
Director Robert Preston handled the duties on a temporary basis
between Roberts' departure and Leach's arrival. Meanwhile, Augustus
Saint-Gaudens passed away from cancer in early August 1907, further
complicating the process. In his 2006 reference, Roger Burdette
describes an intermediate double eagle that he calls the "Very High
Relief" coin, illustrated from models of the design. He notes that
coins were struck but none are known today. Leach discussed that
piece (p. 375):

"Saint-Gaudens then attempted to facilitate the work of
coinage by supplying another or second set of models with the
relief reduced to some extent, but satisfactory results were not
obtained on the regular coinage presses. He then made a third model
with still further and greater reduction of the high relief. The
failure gave rise to considerable friction between the artist and
the mint authorities. The President had become impatient and began
to think that the mint officials were not showing a zeal in the
work that promised results. It was at this stage of the undertaking
that I came into the office of Director."

Today we understand that the friction Leach describes began long
before the double eagle project, and dates back to the medals that
Saint-Gaudens designed for the World's Columbian Exposition, a
commission that Charles Barber felt he should have received as the
Mint Engraver. The 1905 inaugural medal also contributed to that
friction. The double eagle and eagle redesign project undoubtedly
brought Barber's jealousy back into play, having festered for over
a decade.
Leach recalls that President Roosevelt called for him even before
he became familiar with his new surroundings. The president
provided specific direction regarding production of the
Saint-Gaudens design, and Leach was able to accomplish those goals.
After Leach successfully accomplished the initial coinage of High
Relief double eagles, the president requested that he have "enough
of these coins within thirty days to make a distribution throughout
the country, that the people may see what they are like." Leach
continues (p. 376):

"I replied that we would be able to meet with his
desire, although I explained that this issue would have to be
struck on medal presses from the second design model, but that in a
few weeks later we would have dies completed from model No. 3 with
lower relief, so that the coins, when made, would meet the
requirements of the bankers and business men in 'stacking,' etc.,
and these could be struck on the regular coin presses in the usual
way."

While the third model was the standard Arabic Numerals coin in low
relief, Leach followed his meeting with Roosevelt by ordering
full-time production of High Relief double eagles on the medal
press:

"I had every medal press in the Philadelphia mint put
into operation on these coins with an extra force of workmen, so
that the presses were run night and day. The officers of the Mint
entered into the spirit of the work cut out for them, putting a
zest into the operations which assured me that the issue of the new
double eagles, so greatly desired by the President, would be made
on time."

Obviously pleased, Roosevelt introduced Director Leach to several
of his cabinet members as a "man who got results."
This incredible specimen has satiny obverse and reverse luster,
exquisite detail, and brilliant light yellow surfaces. Both sides
are essentially pristine, with only a few minuscule surface marks,
and they can almost literally be counted on one hand. The obverse
has a small splash of violet toning inside the lower border at 5
o'clock. It exhibits bold, swirling die polish lines on both sides
with a complete absence of die erosion. The tripartite edge has
incredible sharpness of all stars, letters, and horizontal
striations between letters. Even the joints from the collar are
boldly evident. The satin surfaces are uniform and radiant, without
any radial flowlines. Both sides have incredibly sharp details. The
obverse has full, unmarred facial features, completely separated
and detailed fingers on both hands, and sharp pillars in the
Capitol building. Even the microscopic skirt detail over both of
Liberty's legs is clearly visible. Every feather on the reverse is
sharply evident, including complete feather details to the very end
of the eagle's tail.
The present example of the High Relief Saint-Gaudens double eagle
has a provenance directly to Frank Leach, being the specimen owned
for many years by his second son, Abraham Powell Leach. His widow
from his second marriage, Florence (Plant) Leach inherited the coin
upon his death in 1962, and she gave it in September 2000 as a gift
to her nephew, Col. George Monroe, the consignor to this sale.Ex: Frank Aleamon Leach; Abraham Powell Leach; Florence Gertrude
Leach; Col. George Monroe.From The Colonel George M. Monroe Collection.
See lots 5221, 5222, 5223, and 5238 for additional gold coins with
the Leach provenance.(Registry
values: N10218) (PCGS# 9136)

The Coinage of Augustus Saint-Gaudens is an issue-by-issue examination of these two artistically inspired series of gold coins.
Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published. The book is based on
two extraordinary collections: The Phillip H. Morse collection and the Dr. and Mrs. Steven L. Duckor collection.